According to the NDP, the royalty review solidified what Albertans already knew – that we are getting our fair share.
Alberta fell from 16th to 38th most attractive jurisdiction in the world, where Alberta was once considered Canada’s economic leader in GDP. Crescent Point Energy was the first to state that they would move their capital due to the royalty review, which they ended up following up on. Encana’s Duvernay gas plant was deferred and Pengrowth also reduced its capital by a range of $190 to $210 million for the year in 2015 and quoted the royalty and climate change reviews as a direct cause.
Remember those times Rachel Notley and Shannon Phillips insisted that Albertans weren’t getting their fair share of royalties? Well, frankly the billions of dollars in investment and the uncertainty that it caused weren’t worth the cost of finding out the opposite.
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